Goldman Sachs Expands Turkey Cover to 60 Stocks, Adds 13 Buys

Nov. 28 (Bloomberg) -- Goldman Sachs Group Inc. expanded
coverage of Turkish stocks to 60, adding 41 new companies
including 13 new “buy” recommendations, the company said in a
report dated November 25 and received by e-mail today.

Top picks are based on macroeconomic themes and include the
“increasing importance of Turkish industry,” rising domestic
consumption and increasing per capita growth, Goldman said.

The average potential gain for the new buy-rated stocks is
58 percent compared with an average of 13 percent for Turkish
stocks under coverage, the bank said.

No banks were listed with a “buy” recommendation. Turkiye
Halk Bankasi AS, a state-owned bank, is the preferred bank in
Turkey, Goldman said.

Turkey’s economy will “slow sharply and may even enter a
relatively mild recession in late 2011 and early 2012,”
according to the report. Growth should reach about 1.5 percent
in 2012, below the global average, and then return to a higher
rate in the medium term.